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4 years into a difficult transformers market in the US, is there a potential end in sight?
Transformers are a key component in the existing and new electrical infrastructure needed for the generation and distribution of electric power. As such, they are an irreplaceable piece of equipment in most generating facilities and substations. Several key policies (IRA, CHIPS, IIJA) and decade-long trends (Electrification, Grid Hardening Reliability Investments, Load Growth) have led to a significant increase in demand for transformers in the US over the past few years. Supply has struggled to keep pace with demand as the market, particularly for power and GSU transformers, has a limited supplier pool due to the ... (full story)